Marketing_Plan_

These templates are designed to assist you in developing Part A of your formal marketing plan. Templates are a useful planning tool because they help to ensure that important information is not omitted from the marketing plan. Answering the questions on these templates will enable you to:

1. Organize and structure the data and information you collect during the situation

analysis.

2. Use this information to better understand a firm's strengths and weaknesses and to

recognize the opportunities and threats that exist in the marketing environment. 3. Develop goals and objectives that capitalize on strengths.

4. Develop a marketing strategy that creates competitive advantages.

5. Outline a plan for implementing the marketing strategy (part B of the assignment).

Remember that there is no one best way to organise a marketing plan. We designed our outline to serve as a starting point and to be flexible enough to accommodate the unique characteristics of your situation. As you complete the templates, it might be useful to refer back to the text of the chapters. In completing the situation analysis section, be sure to be as comprehensive as possible. The viability of your SWOT analysis depends on how well you have identified all of the relevant environmental issues. Likewise, as you complete the SWOT analysis, you should be honest about the firm's characteristics. Do not depend on strengths that the firm really does not possess. Honesty is also important for your listing of weaknesses.

NOTE: BE AWARE THAT YOU MAY NOT NEED TO INCLUDE

INFORMATION UNDER EVERY HEADING LISTED IN THIS FRAMEWORK – IF YOU FEEL THAT YOU CAN LOGICALLY IGNORE A SECTION, FEEL FREE TO DO SO!

BE SURE TO ADDRESS THE TASK AT HAND –CAREFULLY READ THE REQUIREMENTS FOR ASSIGNMENT TWO!

 WHAT INFORMATION DO YOU NEED TO COLLECT IN ORDER TO

ADDRESS THIS TASK?

 WHAT IS THE “QUESTION” TO BE ANSWERED?  WHO ARE YOU WRITING THIS PLAN FOR?

 WHAT MIGHT THEIR EXPECTATIONS OF THIS PLAN BE?

1.

Situation Analysis A.

The External Environment

Competitive Pressures (there may be no competitors in the target market, but if not why not?)

Identify the firm's major competitors (brand, product, generic, and total budget):

Identify the characteristics of the firm's major competitors: Size Growth Profitability Target markets Products Key strengths and weaknesses

Key marketing capabilities (production, distribution, promotion, pricing) List any potential (future) competitors not identified in the preceding.

Economic Growth and Stability

Identify the general economic conditions of the country, region, state, and local area in which the firm operates or intends to operate: Explain the economic climate with respect to customers: Inflation Consumer confidence Purchasing patterns (buying power) Business-to-business economic conditions

Political, Legal, and Regulatory Issues

Identify any political activities that affect the firm or the industry: Changes in elected officials (domestic or foreign) Industry (lobbying) groups Consumer groups Identify any changes in international, federal, state, or local laws and regulations that affect the marketing activities of the firm or the industry: Recent court decisions

Recent rulings of federal, state, local, and self-regulatory

agencies

Changes in global trade agreements or trade law

Changes in Technology

Identify ways that changing technology has affected the firm's customers: Searching for product information Place and timing of purchase (order) decisions Comparison shopping Identify ways that changing technology has affected the way the firm or the industry operates: Manufacturing Distribution Promotion Customer relationship management Partnerships and alliances Identify current technologies that the firm is not using to the fullest potential:

Identify future technologies that may increase the risk of product obsolescence:

Sociocultural Trends

Identify changes in society's demographics and values that will affect the firm or the industry (if this becomes too broad, focus on the firm's target customers):

Explain the changes that shifting demographics and values will have on the firm's: Products (features, benefits, branding) Pricing (value) Distribution (convenience, efficiency) Promotion (message content, delivery, feedback) People (human resource issues) Identify any problems or opportunities that may be created by changes in the cultural diversity of the firm's customers and employees:

Identify any environmental issues (pollution, recycling, energy conservation) that the firm or industry is facing:

B.

Identify the ethical and social responsibility issues that the firm or industry is facing: The Customer Environment

Who are the firm's current and potential customers?

Describe the important identifying characteristics of the firm's current and potential customers: Demographic Geographic Psychographic Product usage Identify the important players in the purchase process for the firm's products: Purchasers (actual act of purchase) Users (actual product user) Influencers (influence the decision, make recommendations) Financial responsibility (who pays the bill?)

What do customers do with the firm's products?

Purchase Purchase quantities and combinations Purchase of complementary products Purchase situations Consumption Characteristics of heavy users Characteristics of light users Consumption of complementary products Consumption situations Disposition Issues related to the creation of waste (garbage) Issues related to recycling

Where do customers purchase the firm's products?

Identify the outlets (intermediaries) where the firm's products are purchased: Store-based retailers Electronic retailers (Internet, television) Catalog retailers Vending Wholesale outlets Direct from the firm

Identify any trends in purchase patterns across these outlets (e.g., how e-commerce has changed the way the firm's products are purchased).

When do customers purchase the firm's products?

Under the firm's control Promotional events (communication and price changes) Customer services (hours of operation, delivery) Not under the firm's control Seasonal patterns Physical/social surroundings Time perceptions Competitive actions

Why (and how) do customers select the firm's products?

Describe the basic benefits provided by the firm's products relative to competing products:

Describe the degree to which customers' needs are being fulfilled by the firm's products relative to competing products:

Describe how customers' needs are expected to change in the future. Describe the relative importance of transactional (short, one-time) vs. relational (long-term, ongoing) exchange processes when customers make a purchase:

C.

Why do potential customers not purchase the firm's products?

Identify the basic needs of non-customers that are not being met by the firm's products:

Identify the features, benefits, and advantages of competing products that cause non-customers to choose them over the firm's products: Identify problems with the firm's distribution, promotion, or pricing that cause non-customers to look elsewhere:

Internal (Organizational) Environment Review of marketing goals and objectives

Identify the firm's current marketing goals and objectives.

State whether these goals and objectives are:

Consistent with the firm's mission Consistent with recent changes in the marketing or customer environments Leading to expected performance outcomes (sales volume, market share, profitability, awareness, brand preference)

Review of current marketing performance

Describe the firm's current performance compared to other firms in the industry. Is the performance of the industry as a whole improving or declining? Why?

If the firm's performance is declining, what is the most likely cause (e.g., environmental changes, flawed strategy, poor implementation)?

Review of current and anticipated organizational resources

Describe the current state of the firm's organizational resources (e.g., financial, capital, human, experience, relationships with key suppliers or customers).

How are the levels of these resources likely to change in the future? If resource levels are expected to change:

How can the firm leverage additional resources to meet customer needs better than competitors?

How can the firm compensate for future constraints on its resources?

Review of current and anticipated cultural and structural issues

In terms of marketing strategy development and implementation, describe the positive and negative aspects of the current and anticipated culture of the firm. Examples could include:

The firm's overall customer orientation (or lack thereof) The firm's emphasis on short-term vs. long-term planning Willingness of the culture to embrace change Internal politics and power struggles

The overall position and importance of the marketing function

Changes in key executive positions General employee satisfaction and morale 2. SWOT Analysis A. Strengths Strength 1:

_________________________________________________________ How does this strength enable the firm to meet customers' needs? Does this strength make the firm different from (better than) its

competitors?

Strength 2:

_________________________________________________________ How does this strength enable the firm to meet customers' needs? Does this strength make the firm different from (better than) its

competitors?

(Repeat as needed to develop a complete list of strengths) B. Weaknesses Weakness 1:

________________________________________________________ How does this weakness prevent the firm from meeting customers'

needs?

Does this weakness make the firm different from (worse than) its

competitors?

Weakness 2:

________________________________________________________ How does this weakness prevent the firm from meeting customers'

needs?

Does this weakness make the firm different from (worse than) its

competitors?

(Repeat as needed to develop a complete list of weaknesses) C. Opportunities Opportunity 1:

_______________________________________________________ How is this opportunity related to serving customers' needs? How can the firm capitalize on this opportunity in the short- and

long-term?

Opportunity 2:

_______________________________________________________ How is this opportunity related to serving customers' needs? How can the firm capitalize on this opportunity in the short- and

long-term?

(Repeat as needed to develop a complete list of opportunities) D. Threats Threat 1:

___________________________________________________________ How is this threat related to serving customers' needs? How can the firm prevent this threat from limiting its capabilities in

the short- and

long-term? Threat 2:

___________________________________________________________ How is this threat related to serving customers' needs? How can the firm prevent this threat from limiting its capabilities in

the short- and

long-term? (Repeat as needed to develop a complete list of threats)

Strengths: • • • • Weaknesses: • • • •

E. The SWOT Matrix

Opportunities: • • • • Threats: • • • • F.

Matching, Converting, Minimizing, and Avoiding Strategies

Describe ways that the firm can match its strengths to its

opportunities to create capabilities in serving customers' needs. Can the firm convert its weaknesses into strengths or its threats into opportunities? If not, how can the firm minimize or avoid its weaknesses and threats?

Does the firm possess any major liabilities (unconverted weaknesses that match unconverted threats) or limitations (unconverted weaknesses or threats that match opportunities)? If so, are these liabilities and limitations obvious to customers?

Can the firm do anything about its liabilities or limitations, especially those that impact the firm's ability to serve customers' needs?

3. Marketing Goals and Objectives A. Marketing Goal A:

__________________________________________________ Objective A1:

______________________________________________________ Specific and measurable outcome: Time frame: Responsible unit/person:

Objective A2:

______________________________________________________ Specific and measurable outcome: Time frame: Responsible unit/person: B. Marketing Goal B:

__________________________________________________ Objective B1:

______________________________________________________ Specific and measurable outcome: Time frame: Responsible unit/person: Objective B2:

______________________________________________________ Specific and measurable outcome: Time frame: Responsible unit/person: (Repeat as needed to develop a complete list of goals and objectives) 4. Marketing Strategies (NOTE: You should have a maximum of 2 strategies) A. Primary Target Market and Marketing Mix Primary target market:

________________________________________________ This target's primary need: Identifying characteristics (demographics, geography,

psychographics):

Purchasing/shopping habits and preferences: Consumption/disposition characteristics: Product: _______________________________________________ Major features and benefits: Sustainable competitive advantage: Differentiation / positioning strategy: Brand name and packaging:

Customer service strategy: Complementary products: Pricing: ________________________________________________ Pricing objectives: Description of per unit costs: Discount/markdown policy: Distribution: ____________________________________________ General supply chain strategy: Intermediaries and channels to be used: Elements of customer convenience: Promotion: _____________________________________________ General IMC strategy: IMC objectives and budget: Elements of the advertising/publicity strategy: Elements of the personal selling strategy: Elements of trade sales promotion (push) strategy: Elements of consumer sales promotion (pull) strategy: Elements of the sponsorship strategy: B. Secondary Target Market and Marketing Mix (there may not be one) Secondary target market:

______________________________________________ This target's primary need: Identifying characteristics (demographics, geography,

psychographics):

Purchasing/shopping habits and preferences: Consumption/disposition characteristics: Product: _______________________________________________ Major features and benefits: Sustainable competitive advantage: Differentiation / positioning strategy: Brand name and packaging: Customer service strategy: Complementary products: Pricing: ________________________________________________

Pricing objectives:

Description of per unit costs: Discount/markdown policy:

Distribution: ____________________________________________

General supply chain strategy:

Intermediaries and channels to be used: Elements of customer convenience:

Promotion: _____________________________________________

General IMC strategy:

IMC objectives and budget:

Elements of the advertising/publicity strategy: Elements of the personal selling strategy:

Elements of trade sales promotion (push) strategy: Elements of consumer sales promotion (pull) strategy: Elements of the sponsorship strategy: